Building supplies group Wolseley is expected to warn investors on Monday it is suffering a sharp slowdown in the US and UK housing markets due to the credit crunch.

The group slashed 6,000 jobs worldwide in the last financial year and has recently confirmed that it is keeping costs under review in the UK.

Wolseley will update on its current trading as it reports its final results for the year to July 31.

Bryan Johnston of Bell Lawrie said: "In a pre-close trading update it flagged that it had suffered a 28 per cent drop in trading profit in the 11 months to June 30, and trading profits in the UK and Ireland fell by 17 per cent. The company has declared that it has no intentions of paying a full dividend, which should save the company around £150million."

Sales are expected to fall from £16.2billion for the year to July 2008 to £15.8bn in the current year.

Finsbury Foods is expected to release its results for the year to June 30 on Tuesday and has already warned of a trading slowdown amid spiralling costs. The group, which makes bakery products for major supermarket chains, has assured its staff that it is not planning to cut jobs as a result of the escalating costs of raw foods tuffs. Finsbury said that it had faced a 10 per cent rise in the cost of staples such as wheat, dairy products and eggs over the past year.

However, the firm reported strong performance from Lanarkshire-based Lightbody, which grew by 17 per cent. Sales for the year just ended are fore cast at £163m, rising to £180m in the current year.

Jd Sports is expected to report strong sales growth for the seven weeks to May 31 on Tuesday. The company has indicated a young customer base and a tight focus on brands helped the group deliver credit crunch-defying sales growth. Sales grew by more than 4.2 per cent over the seven-week period, down slightly from the previous year, which stood at 11 per cent.

Chief executive Peter Cowgill has also revealed plans to roll out its Bank fashion chain across the UK following the purchase of Bank's 49 stores last December for £18.5m.

Sales for the year to January 2009 are forecast to come in at £624m, and share dividends should generate 58.2p in earnings.

Imperial Tobacco is expected to publish a trading update for the year to September 30 on Wednesday.

For the nine months to the end of June, overall cigarette volumes were up by three per cent at 147 billion sticks but in the UK the overall market fell by 6 per cent.